The next-generation network (NGN) market is expected to grow from USD 21.86 billion in 2018 to USD 32.81 billion by 2023, at a CAGR of 7.0% from 2018 to 2023
NEW YORK, August 29, 2018 /PRNewswire/ -- Next-generation network market to grow at a CAGR of 7.0% from 2018 to 2023
The next-generation network (NGN) market is expected to grow from USD 21.86 billion in 2018 to USD 32.81 billion by 2023, at a CAGR of 7.0% from 2018 to 2023. Demand for high-speed services, increase in public–private partnerships for NGN developments, and low operational cost are the major drivers for the NGN market growth, while high infrastructure cost restrains the growth of the NGN market.
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Based on offering, software to grow at highest CAGR during forecast period
Software focuses on making the network responsive and flexible in terms of scaling up according to the network requirement.It allows network operators to make changes quickly in their network through a centralized control system according to the rate at which data traffic increases or decreases.
In software, a network engineer is able to control data traffic from a centralized control system without having physical access to the network hardware such as routers and switches.It also enables network engineer to deliver network services to any location irrespective of what hardware components are connected to.
It also enables prioritizing the data; as a result, the market for software is expected to grow at highest CAGR during the forecast period.
Market for internet service provider to grow at highest CAGR during forecast period
The growth is primarily attributed to increasing demand for high-speed data services and growing technological advancements in IoT and M2M communication.Digitalization has changed the business model for internet service providers.
It has increased the need for effective and efficient networks that can handle the high level of network traffic and provide high-speed data services.Network transformation enables internet service providers to support a variety of automated and professional services to enhance consumer experience.
Moreover, NGN reduces OPEX of internet service providers, which is expected to help them provide high-speed data service at a low price.
Next-generation network market in APAC to grow at highest CAGR during forecast period
Countries in APAC undertake aggressive initiatives to transform their traditional network infrastructure to advanced NGN; as a result, the NGN market in APAC is expected to grow at the highest rate.APAC witnesses dynamic changes in the adoption of new technologies and advancements in organizations across various industries.
The NGN market would play an integral role in advanced technologies such as the Internet of Things (IoT) and machine-to-machine communication (M2M), and other sectors such as smart cities, as well as in industrial automation.In these areas, high-speed connectivity, with low latency is required to provide simultaneous connectivity between multiple devices, as well as to improve the overall performance of a system.
This offers huge potential for NGN connectivity and related infrastructure to provide faster communication and simultaneous connection among different devices.
In the process of determining and verifying the market size for several segments and subsegments gathered through secondary research, extensive primary interviews have been conducted with people holding key positions across several regions.
The breakup of the profiles of primary participants has been given below:
• By Company Type: Tier 1 = 20%, Tier 2 = 55%, and Tier 3 = 25%
• By Designation: C-Level Executives = 50%, Directors = 25%, and Others = 25%
• By Region: North America = 60%, Europe = 20%, APAC = 10%, and RoW = 10%
Major players in the next-generation network market are Cisco (US), Huawei (China), ZTE (China), Ericsson (Sweden), Nokia (Finland), Juniper Network (US), NEC Corporation (Japan), Samsung Electronics (South Korea), IBM (US), Ciena Corporation (US), Hewlett Packard Enterprise (US), AT&T (US), ADTRAN (US), TELES (Germany), KPN International (Netherlands), Infradata (Netherlands), PortaOne (Canada), TelcoBridges (Canada), CommVerge Solutions (Hong Kong), and Extreme Networks (US).
Research Coverage:
The report defines, describes, and forecasts the NGN market based on offering, end user, application, and geography.It provides detailed information regarding the major factors (drivers, restraints, opportunities, and challenges) influencing the growth of the NGN market.
It also analyzes the competitive developments such as joint ventures, collaborations, agreements, contracts, partnerships, mergers and acquisitions, and product launches carried out by the key players to grow in the market.
Reasons to Buy the Report:
• Illustrative segmentation, analysis, and forecast pertaining to the NGN market based on offering, application, end user, and geography have been conducted to provide an overall view of the NGN market.
• Major drivers, restraints, opportunities, and challenges affecting the NGN market growth have been detailed in this report.
• A detailed competitive landscape of the key players in the market, along with their revenues, has been included.
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